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Product management for founders

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A presentation I held in Helsinki Microsoft Flux 15th of October about Product Management for Founders. A very broad overview of the essential product management skills, tools and processes founders need to know about. And some common barriers for startups in adopting good product management practices.

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Product management for founders

  1. 1. PRODUCT MANAGEMENT in Digital Ventures Startups Product Management A presentation given 15th October 2018 in Microsoft Flux by Marko Oksanen
  2. 2. 11 years building digital products 7 years in product management Marko Oksanen @_Mark0
  3. 3. AGENDA: What is Product Management in the context of Digital Ventures. The fundamentals of good product management with practical examples and tools. Brief introduction to common barriers to good product management in startups. 1. 2. 3.
  4. 4. WHAT IS PRODUCT MANAGEMENT? 1.
  5. 5. A project consists of a temporary endeavor undertaken to create a unique product, service or result. A project is temporary in that it has a defined beginning and end in time, and therefore defined scope and resources. Source: PMI IT’S NOT PROJECT MANAGEMENT
  6. 6. BUILDING DIGITAL VENTURES IS A VUCA WORLD
  7. 7. TRADITIONAL PROJECTS ARE HIGH RISK IN A VUCA WORLD
  8. 8. RISK TIME MONEY CUMULATED INFORMATION TRADITIONAL PROJECT AGILE INFORMATION WHY HIGH RISK?
  9. 9. SO WHAT IS PRODUCT MANAGEMENT IN THE WORLD OF DIGITAL VENTURES?
  10. 10. TRADITIONAL DEFINITION OF PRODUCT MANAGEMENT “a Product Manager is a critical link between the business, technology and UX”
  11. 11. CUSTOMERS TEAM BUSINESS Important! BETTER DEFINITION OF PRODUCT MANAGEMENT BIZ, UX & TECH
  12. 12. PRODUCT MANAGEMENT IS NOT A PERSON
  13. 13. THE FUNDAMENTALS 2.
  14. 14. HOW PRODUCT MANAGEMENT WORKS WITH BUSINESS
  15. 15. COLLECT IDEAS ● Business ideas ● Feature requests ● Process ideas ● Problems ● Moonshots
  16. 16. CREATE STRUCTURE ● Build the processes. ● Develop the business ideas. ● Understand root causes (5-WHYS) and push back on features. ● Manage the backlog.
  17. 17. PRIORITIZATION REQUIRES CHALLENGE
  18. 18. MARKET RESEARCH FOR STARTUPS (Going beyond TAM SAM SOM)
  19. 19. COMMUNICATE BOTH WAYS Choose your weapons: ● Reports ● Documents ● 1on1 meetings ● Presentations ● Slack ● Phone calls
  20. 20. BUILD THE VISION ● Vision is the most effective tool for communication. ● A good vision fulfills company purpose.
  21. 21. PURPOSE CUSTOMERS OWNERS EMPLOYEES THE WORLD
  22. 22. “Profit for a company is like oxygen for a person. If you don’t have enough of it, you’re out of the game. But if you think your life is about breathing, you’re really missing something.” -Peter Drucker
  23. 23. HOW PRODUCT MANAGEMENT WORKS WITH THE TEAM
  24. 24. BUILD RESPECT ● Your expertise brings out respect. ● Respect is an important part why PM work often requires technical skills. ● This is also done also outside office hours.
  25. 25. INSPIRE & MOTIVATE ● Help to build the bridge between a line of code and the purpose. ● Inspiring & ambitious visions motivate.
  26. 26. BUILD THE PROCESS
  27. 27. Source: Essential Scrum, Kenneth S. Rubin SCRUM
  28. 28. KANBAN Source: Hermanni Hyytiälä, https://www.reaktor.com/blog/kanban-auttaa-loyta maan-ongelmakohdat-ja-parannuskohteet/
  29. 29. AGILE VALUES FOCUS ON THE FUNDAMENTALS LEAN PRINCIPLES PROCESS People fail here!
  30. 30. MOST COMPANIES ARE SOMEWHERE IN BETWEEN Processes and Tools Individuals and Interactions Working Software Comprehensive Documentation Customer Collaboration Contract Negotiation Responding to Change Following a Plan
  31. 31. LEAN PRINCIPLES LEAN DEVELOPMENT 1. Eliminate waste 2. Amplify learning 3. Decide as late as possible 4. Deliver as fast as possible 5. Empower the team 6. Build integrity in 7. See the whole MURI MURA MUDA
  32. 32. SOME USEFUL TOOLS
  33. 33. BUILD MEASURE LEARN ARE YOU REALLY DOING IT RIGHT?
  34. 34. BUILD MEASURE LEARN IT’S NOT LIKE THIS
  35. 35. DO YOU HAVE A TEAM?
  36. 36. IS YOUR PROCESS PUSH OR PULL?
  37. 37. DO YOU HAVE CONFLICTING ROLES?
  38. 38. SCRUM ROLES
  39. 39. Broken software! Retention in danger
  40. 40. You miss the market opportunity!
  41. 41. Nobody uses it!
  42. 42. HOW PRODUCT MANAGEMENT WORKS WITH CUSTOMERS
  43. 43. GET DATA ON YOUR CUSTOMERS
  44. 44. Dave McClure’s Pirate Metrics (“AARRR”) How do customers find you? How do you get them to the ‘Aha’ moment? Do they stick? Do they bring in more customers? Can you monetize them better? USE A FRAMEWORK
  45. 45. KNOW YOUR CUSTOMERS! TALK TO THEM!
  46. 46. Source: Dr. Max Völkel summary of The Mom Test by Rob Fitzpatrick
  47. 47. Source: Dr. Max Völkel summary of The Mom Test by Rob Fitzpatrick
  48. 48. EXPERIMENT AND VALIDATE ● Approach everything as an experiment. ● Optimize for learning. ● Build the capabilities for quick experimenting. ● Measure # experiments.
  49. 49. Source: https://www.evanmiller.org/ab-testi ng/ YOU DON’T NEED TO BE A DATA SCIENTIST FOR THE BASICS.
  50. 50. THERE ARE LOTS OF TOOLS OUT THERE
  51. 51. 3 BARRIERS FOR BETTER PRODUCT WORK 3.
  52. 52. DUNNING-KRUEGER EFFECT 1 Confidence Experience
  53. 53. THE HERO CEO SYNDROME 2
  54. 54. THE KNOWING DOING GAP 3
  55. 55. THANK YOU! QUESTIONS?
  56. 56. FIND ME ON: _Mark0 me@markooksanen.com /markooksanen
  57. 57. PICTURES & CREDITS ● Most pictures are taken from the great site of: www.unspash.com. ● Some of the thoughts regarding Scrum roles and the risk profiles of ventures were taught to me by the CSPO training of Agile42.

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